Vanguard Group Inc. Decreases Stock Holdings in First Hawaiian, Inc. $FHB

Key Points

• Vanguard Group Inc. has decreased its stake in First Hawaiian, Inc. by 1.9%, selling 277,638 shares and now owns around 11.12% of the bank's stock valued at $342.85 million.
• First Hawaiian's quarterly earnings exceeded expectations, reporting $0.58 EPS against a consensus estimate of $0.49, with revenue of $217.54 million compared to analyst estimates of $214.67 million.
• The company announced a quarterly dividend of $0.26 per share, representing an annualized dividend of $1.04 with a 4.2% dividend yield.

Vanguard Group Inc. trimmed its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,028,218 shares of the bank's stock after selling 277,638 shares during the quarter. Vanguard Group Inc. owned 11.12% of First Hawaiian worth $342,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of First Hawaiian by 65.1% during the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock valued at $76,000 after purchasing an additional 1,233 shares during the period. Parallel Advisors LLC raised its holdings in First Hawaiian by 26.0% in the first quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock worth $109,000 after purchasing an additional 920 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of First Hawaiian by 36.4% during the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock valued at $121,000 after acquiring an additional 1,319 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of First Hawaiian by 51.0% during the fourth quarter. Sterling Capital Management LLC now owns 7,636 shares of the bank's stock valued at $198,000 after acquiring an additional 2,580 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of First Hawaiian during the first quarter valued at about $208,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on FHB. Wells Fargo & Company upped their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods dropped their target price on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wall Street Zen upgraded First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and a consensus price target of $27.07.

First Hawaiian Stock Performance

NASDAQ FHB remained flat at $24.61 during trading hours on Thursday. The company had a trading volume of 741,958 shares, compared to its average volume of 1,031,231. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.80. The company's 50-day moving average is $24.80 and its two-hundred day moving average is $24.56. The stock has a market cap of $3.07 billion, a PE ratio of 12.69, a P/E/G ratio of 5.99 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The bank reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.The business had revenue of $217.54 million for the quarter, compared to analyst estimates of $214.67 million. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, equities analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.2%. The ex-dividend date is Monday, August 18th. First Hawaiian's dividend payout ratio is currently 53.61%.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.